Question

X, Y and Z are partners sharing profits in the firm. Goodwill exists in their books
at 50,000. X retires and on the day of X's retirement, goodwill is valued at 45,000. Y and Z
Illustration 15 (When one of the Remaining Partners Gain and Goodwill Exists in the Books).
decided to share future profits equally.
Pass necessary Journal entries.​

Answer 1

Answer:

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